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The Typical U.S. Monthly Rent Now Equates to 63 Hours of Work for Budget-Strained Tenants

Pro Builder

Monthly Rent Now Equates to 63 Hours of Work for Budget-Strained Tenants. rent marks the end of a two-year streak of non-stop price growth, but renters are still burdened by inflated costs in metros like Miami, Tampa, and Phoenix. Phoenix rents are up 66.7% The Typical U.S. Tue, 11/22/2022 - 10:31. Over the past five years, U.S.

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Incentives Won’t Be Enough to Keep Buyers in the Game as Housing Shortage Grows

Pro Builder

Incentives Won’t Be Enough to Keep Buyers in the Game as Housing Shortage Grows. Builders are offering incentives to prospective buyers to hold on to what little demand remains, but as supply drops and housing costs grow, sales continue to slow. Fri, 08/12/2022 - 09:36. New-Home Sales.

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These Are the Housing Markets Seeing the Most—and Least—Price Reductions

Pro Builder

These Are the Housing Markets Seeing the Most—and Least—Price Reductions ldeakins Mon, 03/27/2023 - 11:42 Homebuyers daunted by rising home prices and borrowing costs are pulling out of the for-sale market. Home sellers are making the most significant reductions in overpriced markets such as Austin, Texas, Phoenix, and St.

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A Record High Number of Home Buyers Are Looking to Relocate

Pro Builder

of Redfin.com house hunters eyed a move to a different metro area in January 2022, up from 31.5% As mortgage rates steadily rise and rental prices reach unprecedented highs, Americans with constricted budgets will be more inclined to relocate in the coming months to secure affordable housing before being entirely priced out of heated market.

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Return to Work Begins to Impact Housing Demand

Pro Builder

Return to Work Begins to Impact Housing Demand. Just a rule of thumb that a lot of people told me for, a budget is just that you want to spend max like 30% of your annual salary on housing,” Penning said, “So I’ve taken that into consideration when setting my max budget.”. cbroderick. Thu, 08/05/2021 - 10:15. In the U.S.

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Inflation Is Rising the Fastest in Sun Belt Cities—Here’s Why

Pro Builder

Sun Belt cities like Phoenix, Atlanta, Miami, and Tampa have experienced price increases above 10 percent this year, soaring well beyond the national rate of 8.5 Because housing is a main driver of inflation nationwide, homebuyers and renters have faced one of the steepest uphill battles in search of affordability. Housing Markets.

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Record Share of Homebuyers Relocate for Affordability

Pro Builder

of Redfin users searched for homes outside of their metro areas in the second quarter of 2022 as surging housing costs make cities like San Francisco or San Jose unaffordable and destinations like Tampa and San Antonio more attractive. Housing Markets. Housing Markets. A record high 32.6% New-Home Sales.